The growing population of older adults emphasizes the need to develop interventions that prevent or delay some of the negative cognitive changes that accompany aging. In particular, as memory impairment is the foremost cognitive deficit affecting older adults, it is vital that such interventions include improving memory functioning. With regard to memory, it has been shown that age-related memory impairment arises equally from age-related increases in forgetting and increases in false memories (FMs). The current study will address the problem of FMs in aging by training older adults to use details of past events during memory retrieval in order to distinguish targets from related lures. Specifically, we will examine the cognitive and neural basis of a retrieval-based monitoring strategy in reducing FMs. Behaviorally, repeated measures analysis show training-related decreases in rates of FMs and increases in true memories and correct rejections. Neurally, results show increased neural activity in regions supporting retrieval of item-specific encoded details (e.g., medial temporal lobe; early visual cortex) and decreased activity in regions supporting gist processing (e.g., lateral temporal cortices). Additionally, we observed more efficient functioning in prefrontal cortex (PFC) regions associated with retrieval monitoring (e.g., superior medial PFC; dorsolateral PFC) following training. Training-related connectivity shifts between these regions will be discussed. Together, results provide a better understanding of the neural mechanisms underlying cognitive training, and suggest a method by which false memories could be reduced in older adults.